PACE is the Professional Adult Comprehensive Education Program, which provides adult learners an accelerated, timely way to complete their degree through Millikin University. Students take accelerated courses, one at a time. PACE coursework allows each student to quickly achieve his/her goal of completing a degree. Most courses are held once a week. This allows non-traditional students the flexibility to continue making a living while learning. Read more about the PACE program.
Time to FILE YOUR 2015-16 FAFSA!
It is time to file your FAFSA - Free Application for Federal Student Aid for 2015-16! Filing early is very important! Hurry, file today, even if you have not completed your 2014 taxes, you can enter estimated figures. Once your taxes are completed, you can login and make a correction to update your income or, use the IRS Data Retrieval.
Please be aware of SCAM *** ALERT:
If you receive a Student Financial Resource Center Form - please discard!!
This is a SCAM. The only form you need to complete for financial aid - is the FREE Application for Federal Student Aid - FAFSA at www.fafsa.gov.
Paying by Credit Card - online only:
Effective Thursday, January 2, 2014 the Student Service Center will no longer be accepting credit card payments in person or over the phone. In person payments will be cash or check only. If you would like to make a credit card payment, you may do so online. Log into "myMillikin" - Tools - Pay bills.
Federal Pell Grant
The Federal Pell Grant Program provides assistance to Millikin students who demonstrate a high financial need. Eligibility is based solely on FAFSA results and maximum award amounts are set annually by Federal guidelines. Awards are prorated based on expected family contribution (EFC) amount and enrollment hours.
Illinois Monetary Awards Program (MAP) Grant
Illinois Monetary Awards Program (MAP) Grant—This program provides over $4 million annually to Millikin Students. The grant assists Illinois residents who attend Illinois post-secondary institutions. Eligibility is determined by the Illinois Student Assistance Commission (ISAC) based on FAFSA information and a prescribed formula set annually. For maximum award eligibility, a student must be enrolled in 15 credit hours. The award will be adjusted if the student is enrolled in less than 15 credit hours. The maximum award for 2014-15 is $4,720.
Non-Need Based Grants:
Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant - TEACH Grant eligibility at Millikin
For all Federal Student Loans, the student must be enrolled at least half time (6 credits).
Need Based Loans
The Federal Direct Subsidized Loan is based on financial need. Interest on the loan is paid by the Federal Government as long as the student is enrolled at least half-time (6 credit hours) during the term. The subsidized loan offers a 6 month grace period, before repayment on the loan is expected. The interest rate is determined each year by Federal guidelines. The interest rate is 4.66% for 2014-15. There is a 1.072% (1.073% beginning October 1, 2014) processing fee on all loans, by the Dept of Education.
Non-Need Based Loans
The Federal Direct Unsubsidized Loan is offered to students that do not demonstrate financial need. Interest will begin accruing upon disbursement. Repayment begins six months after the student graduates or ceases enrollment of at least 6 credit hours. The interest rate is determined each year by Federal guidelines. For 2014-15 the interest rate is 4.66%. There is a 1.072% (1.073% beginning October 1, 2014) processing fee on all loans, by the Dept of Education.
||Total (Subsidized and Unsubsidized)
|Third Year and higher
Federal Direct Subsidized and/or Unsubsidized Loan - Students
Loan Steps for NEW Students:
Log on to MU Online to accept your loans. Complete a Direct Loan Master Promissory note and Loan Entrance Counseling at www.studentloans.gov.
For RETURNING Students -
If you had a Federal Direct Loan last year, all you need to do is log on to MU Online and accept your loan(s). Your MPN and Entrance Counseling are on file.
The private/alternative loans are commercial educational loans that may be used to close the gap between your financial aid and cost of attendance. Interest rates will vary from lender to lender. We have listed the lenders that our students have used over the past three years. You are not limited to these lenders. Personal research is up to each individual, as Millikin cannot advise on these products.
Refunds may be used for other educational expenses such as housing, meals, books, supplies, etc. If your financial aid creates a credit on your student account, a refund will be issued to you. Please complete and return a
Refund Authorization Form.
Refunds are processed once a week. You will be notified through your Millikin email address if a refund has been processed for you. If you have any questions about your account, please contact the Student Financial Services at 217.424.6317 or email us at email@example.com
Lenders are listed in Alphabetical Order
Anheuser-Busch Credit Union
Citizens Bank - TruFit Student Loan
Commerce Bank - Smart Option Loan
cuStudentLoans - cuScholar Private Student Loan
Discover Student Loan
Interra Credit Union
Iowa Student Loan
Northwest Federal Credit Union
Regions Bank - Smart Option Loan
Student Loan Finance - iHelp Loan
Sun Trust Bank
University of Illinois Employees Credit Union
(Updated on 01/30/15)
If you have a credit on your account you may be eligible to receive a book voucher. Book vouchers allow you to purchase your books prior to your refund. You can stop by the Student Service Center and request a book voucher, if you anticipate a credit.
If you owe on your account you are not eligible to receive a book voucher.
For more information, visit the Student Financial Services Link.